Experts bat for tie-ups as ONGC takes over operations of K-G

State-run Oil and Natural Gas Corporation (ONGC) is set to take over the operations of Deen Dayal Upadhyaya discovery in the Krishna-Godavari (K-G) basin on April 1 from Gujarat State Petroleum Corporation. However, experts have called for the company to engage strategic partners to monetise the asset.  

The ONGC board had cleared the $1.2-billion acquisition on February 24. According to the deal, Gujarat State Petroleum Corporation (GSPC) will buy natural gas from the block for $6 per million British thermal units (mBtu), which will increase to $6.9 per mBtu in the fifth year. “We are taking over the supervising